Tesla strikes semiconductor deal with Tata electronics for global operations
By MYBRANDBOOK
Tesla has inked a strategic deal with Tata Electronics to acquire semiconductor chips for its global operations. This agreement is seen to be noteworthy as it positions Tata Electronics as a dependable supplier for prominent global clients aiming to establish a crucial segment of their semiconductor value chain in India. The US-based electric vehicle (EV) giant too is eager to penetrate India.
This move could be a part of Tesla's broader strategy to diversify its supply chain and establish a more significant presence in India.
The report also suggests that Tata Electronics, which leads the Tata group's entry into semiconductor manufacturing, has increased its workforce by recruiting top-level executives. Tata Electronics has established semiconductor manufacturing facilities in Hosur, Dholera, and Assam, with plans to expand operations and has invested $14 billion in the business to date.
Details about the deal, including its value and specific terms, remain undisclosed. Both Tesla and Tata have not commented on the agreement.
Elon Musk is expected to visit India soon, possibly to meet with Prime Minister Narendra Modi and discuss future investments, which also includes plans for EV manufacturing facilities in India. The billionaire is also expected to make some big announcements during his visit to India.
Tesla is expected to invest $2-3 billion in setting up manufacturing operations for electric vehicles in India.
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